ASR Vermogensbeheer N.V. Reduces Holdings in Owens Corning Inc $OC

Key Points

• ASR Vermogensbeheer N.V. reduced its holdings in Owens Corning Inc by 47.9% during the 2nd quarter, ending with 15,440 shares valued at approximately $2.12 million.
• Owens Corning reported a 4.21 EPS for the latest quarter, beating analysts' expectations, with revenues of $2.75 billion, up 10% from the previous year.
• The company declared a quarterly dividend of $0.69 per share, representing an annualized dividend yield of 2.0%.

ASR Vermogensbeheer N.V. decreased its position in shares of Owens Corning Inc (NYSE:OC - Free Report) by 47.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,440 shares of the construction company's stock after selling 14,168 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Owens Corning were worth $2,123,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Bangor Savings Bank purchased a new position in shares of Owens Corning during the second quarter worth about $28,000. Wayfinding Financial LLC purchased a new position in shares of Owens Corning during the first quarter worth about $60,000. Geneos Wealth Management Inc. grew its holdings in shares of Owens Corning by 61.7% during the first quarter. Geneos Wealth Management Inc. now owns 482 shares of the construction company's stock worth $69,000 after purchasing an additional 184 shares during the last quarter. Archer Investment Corp grew its holdings in shares of Owens Corning by 17.9% during the first quarter. Archer Investment Corp now owns 660 shares of the construction company's stock worth $94,000 after purchasing an additional 100 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Owens Corning by 36.0% during the first quarter. Quarry LP now owns 676 shares of the construction company's stock worth $97,000 after purchasing an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 88.40% of the company's stock.

Owens Corning Price Performance

Shares of NYSE:OC opened at $138.64 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.52 and a debt-to-equity ratio of 0.98. The company has a market cap of $11.59 billion, a P/E ratio of 36.01, a PEG ratio of 9.97 and a beta of 1.32. Owens Corning Inc has a 52 week low of $123.40 and a 52 week high of $214.53. The company has a 50-day moving average price of $147.39 and a 200 day moving average price of $142.45.

Owens Corning (NYSE:OC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $4.21 EPS for the quarter, beating analysts' consensus estimates of $3.80 by $0.41. The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. Owens Corning had a net margin of 2.98% and a return on equity of 24.49%. The firm's revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.64 earnings per share. Research analysts predict that Owens Corning Inc will post 15.49 earnings per share for the current year.

Owens Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Monday, October 20th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 20th. Owens Corning's dividend payout ratio (DPR) is presently 71.69%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Barclays raised their price objective on Owens Corning from $167.00 to $173.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Wells Fargo & Company increased their target price on shares of Owens Corning from $170.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of Owens Corning in a research note on Saturday, September 27th. Bank of America decreased their target price on shares of Owens Corning from $180.00 to $168.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, UBS Group decreased their target price on shares of Owens Corning from $218.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $183.55.

Owens Corning Company Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.

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